Ashwood 12South (Ashwood) is a recently completed mixed-use retail and office development in the 12South neighborhood. Turnbridge Equities (Turnbridge) along with Bell Construction completed the retail center earlier this year, also marking the inaugural project for Turnbridge in Nashville.
“As a local builder for more than 55 years, we take great pride in helping shape projects that honor the character of our communities. Ashwood 12 South reflects what we value most. From early planning through final delivery, our team focused on craftsmanship, coordination and being a good neighbor. Now that the project is complete, we’re excited to see these new workplaces, restaurants and gathering spaces become part of the fabric of 12 South.”
Eric Pyle, BELL Construction President & Member.
The 116,500 square-foot, three-story LEED-certified project has an impressive list of retailers in this neighborhood center. It features a mix of first-to-market brands, many which are rarely seen in neighborhood retail centers at this scale, and others which are familiar to the area.
I reached out to Andrew Joblon, Founder and Managing Principal at Turnbridge Equities to get some post development insights, asking questions regarding its apparent success, use of pre-development data, and overall insights on the Nashville market as it relates to retail. Tap the dropdown bars below for the chat.
Our investments are always analyzed based on multiple factors. While economics largely determine the early viability of any deal, we are incredibly thorough in our market and site selection process, which allow us to form high levels of conviction in the markets and micro-markets we enter and in the long term prospects of the projects we take on.
“Nashville had been on our radar for years. We were drawn to its rapidly expanding economy — bolstered by a booming healthcare sector, growing tech ecosystem, strong government institutions and higher education systems, and a creative, well-educated population. The city’s favorable cost of living and doing business combined with strong household income levels, made it an exceptionally compelling place to invest.”
“Within Nashville, the 12 South micro-market stood out immediately. The 12th Avenue South corridor offered a rare opportunity to create a best-in-class mixed-use destination in what we viewed as Nashville’s most coveted and supply constrained neighborhood. At the onset, it was clear this would become Nashville’s premier shopping, dining, and entertainment corridor. The area’s pedestrian-friendly streetscapes, superior walkability, concentration of both nationally-recognized fashion brands and local boutiques, and a highly activated restaurant and cafe culture created a strong existing co-tenancy and extraordinarily high barriers to entry.”
Attracting this caliber of brands is the result of years of relationship-building and a very intentional leasing strategy. Many of the tenants at Ashwood 12 South are partners we first worked with at our mixed-use development in Austin known as Music Lane. That project established a track record of thoughtful curation and strong performance, and it created a level of trust that translated naturally to Nashville.
“Ashwood bears many similarities to Music Lane, and Nashville shares many of the qualities that made Austin so compelling — an exceptional music and cultural scene, major sports presence, a top-tier university system, and a diverse economic base. Those attributes make it especially attractive to brands that sell not just products but an experience.
A good example of our hands-on approach was bringing Lettuce Entertain You’s Sushi-San to Ashwood. After the success of their Mediterranean concept, Aba, at Music Lane, we sat down and thought about: What is missing in 12 South? What can we introduce that elevates the street? A high-quality sushi concept fit the bill, and they were excited to be the first to bring it to the neighborhood — and to make it the inaugural Sushi-San outside of Chicago, where they are based.”
“Similarly, brands like Reformation, Sézane, Birkenstock, Lululemon, and SunLife Organics followed us from Austin because they believed in both the vision for Ashwood and our ability to execute it. We’re honored to partner with these esteemed brands and best-in-class operators and to build a tenant mix that feels curated, complementary, and accessible, ensuring there’s something for everyone at Ashwood 12 South.”
Nashville is well covered from a retail submarket prospective with 12S, the Gulch, Wedgewood, Belle Meade, and Green Hills. Perhaps within those submarkets there will be opportunities.
